secwatch.observer — SEC 8-K summary
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Issuer:     Enhabit, Inc. (EHAB)
CIK:        0001803737
Form:       8-K
Filed at:   2023-06-28T23:59:59+00:00
Accession:  0001803737-23-000110
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Enhabit amends credit agreement to raise leverage caps and restrict dividends
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- Maximum Total Net Leverage Ratio raised to 5.25x through Dec 2023, stepping to 4.50x by Sep 2024.
- New pricing tier added for leverage >4.50x: SOFR margin +2.25%, ABR margin +1.25%.
- Restricted payments prohibited before July 1, 2024 unless pro forma leverage ≤4.00x.
- Incremental facility ratio condition modified; step-up election available for material acquisitions.
- No restricted payments allowed until July 2024 except to borrower/subs or if leverage ≤4.00x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803737/000180373723000110/0001803737-23-000110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803737/000180373723000110/ehab-20230627.htm
  HTML page:      https://secwatch.observer/filing/0001803737-23-000110

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